OPEC

...To leap further on Libya, other crises The price of Bonny Light, Nigeria’s premium oil grade has risen from $70 to $71.74 per barrel in the international market, the highest in 2019, as the Organisation of Petroleum Exporting…
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The rising tide of light U.S. shale oil has largely swept away comparable grades of Nigerian oil from American shores and is putting them under pressure in Europe. But steady Indian and Indonesian demand has helped lift price…
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United States’ sanctions against Iran and Venezuela, fighting in Libya and production cuts led by the Organisation of Petroleum Exporting Countries (OPEC) yesterday pushed crude oil price to a five-month high of $70 per barrel, as…
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The average production cost for a barrel of oil in Nigeria has declined to just US$23 a barrel, Petroleum Minister Emmanuel Ibe Kachikwu told local media, adding that oil companies were not stopping there and were aiming to reduce this…
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* Nigeria’s top oil grades near five-year highs - trade * In Europe, buyers drive hard bargain for Nigerian oil The rising tide of light U.S. shale oil has largely swept away comparable grades of Nigerian oil from American shores and…
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Saudi Energy Minister Khalid Al-Falih met with President Muhammadu Buhari and discussed cooperation between the two OPEC-member countries in the energy sector, the minister said in a tweet on Saturday. Al-Falih said that he met with…
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The Organisation of Petroleum Exporting Countries (OPEC) has said that more than one-third of the 24 countries currently working together under a negotiated framework to cut down oil outputs and inventories, to stabilise prices in the…
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A cargo of Nigeria’s distillate-rich Bonga crude is due to move to the United States (U.S.) from the May loading programme, traders have disclosed, after a near six-month hiatus. According to U.S. Customs data, the last cargo of Bonga…
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Nigeria’s Petroleum Minister Emmanuel Ibe Kachikwu admitted that reducing oil production to the quota assigned by OPEC is a challenge, not least because of the start of production at the Egina oil field. The offshore field will have a…
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The OPEC+ deal to curb oil production probably will be extended, “hopefully for another six months” beyond the end of June, Nigerian oil minister Emmanuel Kachikwu said. The agreement has stabilized the oil market and easing the curbs…
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